How will artificial intelligence change our lives? And who sets the rules? The second London networking lunch organized by BurdaPrincipal Investments focused on artificial intelligence (AI).
Hubert Burda Media today announced its investment in UK’s leading curated marketplace for creative small businesses Notonthehighstreet.com. Burda led the £21m funding round (Series E) with additional support from existing investors including Index Ventures, Industry Ventures and Eight Roads Ventures.
The marketplace Notonthehighstreet.com offers an alternative to stores you find on main shopping streets: a curated product selection with unique designs, high-quality craftsmanship and inspiring stories behind the people that make them. The company just posted its year-on-year sales growth of 19% - the tenth consecutive year of double-digit growth.
Notonthehighstreet.com will use the funds to:
- Further invest in the innovation, marketing and operations that allow the company’s 5,000 Partner (seller) community to connect with more customers and scale their businesses
- Further build Notonthehighstreet.com’s core gifting offer, expanding categories and developing the customer experience both on and offline
- Open up Partners’ access to new markets, and build the business’ international vision
“Notonthehighstreet.com has built up a very successful E-Commerce business beyond the classic retail model that fits very well with our portfolio. We see significant growth potential for this unique business, both in and outside the UK, making it an obvious partner for us as we continue to grow our portfolio of consumer and technology brands internationally.”
Martin Weiss, managing director at BurdaPrincipal Investments
“Finding an investor that shared our vision and could provide strategic support, as well as new funds to support our multiyear growth plan, was key. Burda has a longstanding reputation as an investor in cutting-edge consumer and technology businesses and an international reach that will help us accelerate the potential we see both at home and overseas.”
Simon Belsham, CEO Notonthehighstreet.com